Middle East deadlock
SPY•Yen weakens as dollar holds firm
And over in foreign exchange land, the yen JPY= was back in the spotlight as the Japanese currency stood on the weaker side of 159 against the dollar, giving up some of its intervention gains.
Key developments that could influence markets on Tuesday:
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Developments in the Middle East
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U.S. earnings including CoreWeave, Super Micro Computer
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Reopening of 5-year German government debt auction
AI earnings and financing plans draw attention
On the U.S. earnings front, CoreWeave CRWV.O is expected to report a sharp jump in second-quarter revenue as the company sees a surge in demand for its AI cloud services amid massive data centre spending by tech companies, with investors focused on the outlook and investment plans for the year.
Speaking of AI, Nvidia NVDA.O said on Monday it has partnered with six major financial institutions to launch compute financing platforms aimed at raising more than $500 billion in third-party capital for AI infrastructure, underscoring the scale of the sector's investment boom.
Middle East tensions keep oil and markets on edge
Oil prices were back on the rise on Tuesday and touched their highest this month, as Washington and Tehran continued to trade demands for the reopening of the Strait of Hormuz.
U.S. President Donald Trump responded to Iran's conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, dimming prospects for an imminent deal to reopen the key waterway.
